IMF Raises Concerns Over Transparency in Development Projects

The International Monetary Fund (IMF) has raised objections regarding the transparency of projects under the annual development program.

According to IMF sources, complete information regarding investment in development projects is not available under the Public Sector Development Program (PSDP), highlighting the urgent need for transparency in development projects under the PSDP.

The IMF has suggested that effective documentation of development projects be incorporated into the budget for the upcoming fiscal year. This documentation should include the location and development format of development projects, with a view to integrating them into the PSDP while considering the budget.

Sources also indicate that due to financial constraints, the IMF will be informed about the objectives of development projects. The Ministry of Finance and the Ministry of Planning will collaborate to fulfill the IMF’s condition for paperwork.

According to Ministry of Finance sources, the IMF has provided recommendations for the development budget for the upcoming fiscal year.